Nike: finance chief promoted to COO role

(CercleFinance.com) - US athletic footwear giant Nike on Tuesday promoted finance chief Andy Campion to the role of chief operating officer, making him the group's number two, behind chief executive John Donahoe.


In his new role, effective as of 1 April, Campion will lead Nike's digital transformation, sourcing and manufacturing, demand and supply management, as well as logistics, procurement and sustainability.

Campion - who joined Nike in 2007 from Disney, where he was in charge of strategic planning, mergers and acquisitions - will succeed Eric Sprunk, COO, who is retiring from the company.

Nike said it named an internal candidate, Matthew Friend, who is currently vice-president of investor relations, as its next chief finance officer, after Campion's promotion.

The retention of Campion and promotion of Friend should be viewed "very favorably" by investors, analysts at Wedbush said.

Nike shares were up 0.8% after the announcement.

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